Parliament & Legislation

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Vince RichardsonSo we miss a golden opportunity because one MP was somewhere else at the exact moment he needed to be there.Brilliant,is it any surprise we are in the mess we are in with a government like this....

2 weeks ago

Thiago VenturaDouglas Carswel ?http://img.thesun.co.uk/aidemi......

3 weeks ago

Mario MannaroStruggling to understand as he can get away with a simply "wasn't able to attend"....

3 weeks ago
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Vince RichardsonMy MP must love me : )...

3 weeks ago

Marco SabaIn the mean time...Torfason-Syndrome: Swiss central bank suppress cash flow statementhttp://leconomistamascherato.b......

3 weeks ago
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The Monetary Reform resolution was put on the Parliament’s agenda in Iceland

iceland monetary reform

On Wednesday 17th Feb 2016 we received great news from Iceland the Monetary Reform resolution calling for the establishment of a special commission to “carry out a review of the arrangements of money creation in Iceland and to make recommendations for improvements” was put on the parliament's agenda. Frosti Sigurjónsson, Member of the Parliament of Iceland and Chairman of the Committee for Economic Affairs and Trade, who published a report (commissioned by the Prime Minister) outlining the need for a fundamental reform of Iceland’s monetary system in March 2015, spoke for the resolution, where he said:

Marco SabaThe banks create money as deposit also when buying assets, real estate, shares, etc. etc....

March 2016

Marco SabaBank money created as deposit is defined as 'cash' in current international accounting standards, so it must be accounted for as cash in the same bank cash flow statement - which currently is not. By accounting for money created as an inflow in the cash flow accounting you solve most of the current ...

March 2016

James MurrayI thought so!But thanks for that Wim - it is practically the same as what I said.So, a bank, when depositing money into someone's account after they grant a loan is, at that stage, creating money.I am pleased I had it right.Jim Murray...

February 2016
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